Your Data Deserves No Maybes

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Your coverages should be comprehensive and specific to where you have risk. Let us remove your uncertainty, and use our expertise to provide you with the best recommendations for your protection.

When cyber-attacks such as data breaches or hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue, and litigation. It is important to remember that no organization is immune to the impact of cybercrime – no business is too small to be a target. As a result, cyber liability insurance has become an essential component of any risk management program.

Cyber Attacks can take many forms, including:

  • Phishing
  • Viruses
  • Key Logging
  • Spyware
  • Ransomware

These methods can be used to obtain sensitive information, steal financial assets, and corrupt data. Ransomware can hold your system hostage and bring your operations to a halt, costing you business and downtime.

Cyber liability insurance policies are tailored to meet your company’s specific needs, mitigate liabilities associated with cyber attacks, and can offer a number of important benefits, including the following:

  • Data Breach Coverage – in the event of a breach, organizations are required by law to notify affected parties. This can add to overall data breach costs, particularly as they relate to security fixes, identity theft protection for those impacted by the breach, and protection from possible legal action. Cyber liability policies include coverage for these exposures, thus safeguarding your data from cyber criminals.
  • Business Interruption Loss Reimbursement – A cyber-attack can lead to an IT failure that disrupts business operations, costing your organization both time and money. Cyber liability policies may cover your loss of income during these operations. What’s more, increased costs to your business operations in the aftermath of a cyber-attack may also be covered.
  • Cyber Extortion Defense – Ransomware and similar malicious software are designed to steal and withhold key data from organizations until a steep fee is paid. As these types of attacks increase in frequency and severity, it’s critical that organizations seek cyber liability insurance, which can help recoup losses related to cyber extortion.
  • Coverage Beyond a General Liability Policy – General liability policies don’t always protect organizations from losses related to data breaches. What’s more, data is generally worth far more than physical assets, and it’s important to have the right protection in place when you need it most. Supplementing your insurance with cyber coverage can provide you with peace of mind that, in the event of an attack, your organization’s financial and reputational well-being is protected.

Cyber Liability exposures aren’t going away, and are only going to escalate as time goes on. Businesses need to be prepared in the event that a cyber-attack strikes. To learn more, contact us today and get the protection that your business needs.